At some point (maybe 20 years ago), the NCAA made a stupid decision: they would only count marks generated in the "collegiate season" as records. At that point, they went back and dropped all performances which were set after the NCAA championship. This includes some notable marks that were achieved by collegiate athletes (i.e. Cruz's 1:41.77).
It seems obvious to me that a collegiate record should be the best performances generated by collegiate athletes, not the best performance generated between March 20 and June 15 in a given year. It MIGHT make sense if the "collegiate season" meant meets between college athletes (and no pros), but that obviously isn't the case.
Most schools recognize as school records performances that were accomplished in the summer, so you have a fair number of school records that are faster than the NCAA records. And you have a ton of school records that should appear on top 10 NCAA lists but don't.